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For the Most Profitable Business Model, Repeat What You Have Done, But Differently

May 25, 2008
Champion chess players report that the key to winning is to start looking for a better move as soon as you have found a good one. Then repeat the process. Naturally, you don't have time to repeat yourself in very much of what you do. For business model innovation, repetition is essential to building the ultimate competitive advantage.

When you feel like you've exhausted all of the important kinds of value that you could potentially identify, you are ready to repeat the process you use for finding new kinds of value.

Don't worry, many more opportunities are still waiting there. You just haven't found them yet. But remember that it's important that you find them first.

Your challenge is to find way to repeat the process differently from the last time you did it so that your thinking will move into new paths. A great way to do this is by changing the participants. Each new person will have had the benefit of different life experiences and perspectives.

Undoubtedly, some people will have chosen not to participant the last time, new people may be available now, and some people who were considered unlikely to help remained on the sidelines. They will also be stimulated by new thoughts from seeing what was just identified.

Another prime opportunity is to ask different questions. For example, a good role playing alternative is to perform the same analysis . . . except imagining yourself to be working for each of your competitors and potential competitors.

Perhaps the most powerful variation is to change the nature, scope, and dimensions of the scenarios concerning factors outside of your influence. Make them even more extreme and confining. Or do just the opposite.

The science of all of this art is to systematically be sure that the whole potential volume of opportunities is examined from many different dimensions. You will notice that the opportunities just identified tended to be heavily bunched in certain directions. How can you get more of them bunched into other dimensions in the future?

After you have repeated this process a few times, you may also find it valuable to change the basic premise. Only consider benefits that you could offer profitably at a lower price.

That will sound like a paradox, but actually it will force your minds to focus on how to trade more valuable benefits that are less costly to provide for more expensive benefits that are less valuable. When you feel you have exhausted this dimension, start to consider demand-expanding benefits that will require small increases in prices.
About the Author
Donald Mitchell is an author of seven books including Adventures of an Optimist, The 2,000 Percent Squared Solution, The 2,000 Percent Solution, The 2,000 Percent Solution Workbook, The Irresistible Growth Enterprise, and The Ultimate Competitive Advantage. Read about creating breakthroughs through 2,000 percent solutions and receive tips by e-mail by registering for free at

http://www.2000percentsolution.com .
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